Pakistan $1 Trillion Economy

[Arsalan]

Because what @Atanz posted is wrong. Not only do government employees but all the employees of organized private sector pay taxes as taxes are cut before employees get salaries.

The Critic's Den: Pakistanis are most Heavily Taxed People in South Asia

but it was not only Atanz, there are a few other links as well. I will really appreciate if someone from them can shed some light on this issue.

 

[The Great One]

Congratulations to Pakistan on achievement of this wonderful milestone.
Insha allah, Pakistan will soon overtake India's only $1.9 trillion economy.

 

[ziaulislam]

Economy of Pakistan - Wikipedia, the free encyclopedia


Bare facts

Current nominal GDP 2015 $272 BILLION

Current growth rate under 5%

To growth from $272 BILLION TO $1 TRILLION BASED ON 5% GROWTH

SAY YEAR 2037

wrong it depends upon inflation too
a 5% growth and 10% inflation will mean 10 years. the very reason our economy grew 3 times since 2000

 

[Dr. Strangelove]

but it was not only Atanz, there are a few other links as well. I will really appreciate if someone from them can shed some light on this issue.

the number of tax payers he quoted was from the tax book released by the GOP last year

 

[ziaulislam]

in my opinion Pakistan growth may get stagnant around 800-900 billion dollars unless important reforms are made at gross root education. this stagnation could happen around 2025. if major reforms done now i am hopeful that we will cross that in 10-12 years. Assuming a average growth of 6% and average inflation 7-8%

 

[ito]

but it was not only Atanz, there are a few other links as well. I will really appreciate if someone from them can shed some light on this issue.

They are mistaking tax filings with tax paying. I may pay tax but may not decide file or may not get a notice from the concerned tax authorities to file my tax payment.

the number of tax payers he quoted was from the tax book released by the GOP last year

FBR is incompetent authority. Tax book contains tax filings and it doesn't cover all tax payers

 

[M.SAAD]

Some 25 years..

 

[Stephen Cohen]

Pakistan has several economic weaknesses

In TODAY's global economy A country should be able to EARN dollars
as well get INVESTMENT in US dollars to succeed

Both of which are lacking in Pakistan

 

[Manindra]

All the official figures are garbage.There is always certain amount of slip in the official figures and the reality on the ground. Not everybody declares their true income. That why we call the unofficial economy the 'black economy'.

However what marks out Pakistan is magnitude of tax evasion even by Third World standards. According to FBR figures there are 856,987 taxpayers in Pakistan in a country of 190 million people. That has got to be world record. That is well below 1% paying tax in Pakistan.

Less than 1 percent of Pakistanis pay tax – Survey | Aboard The Democracy Train

Given the monumental incompetance by FBR as demonstrated by the numbers of most of the 856,987 taxpayers will be paying nominal amount of tax and getting away with 'murder'. Therefore Pakistan's tax iceberg is differant from most because larger mass of it is submerged. This is the point to keep in mind and not compare it to Canada, USA or UK. What is the exception in UK is ithe norm in Pakistan.

Anecodotal evidence will show any observer. Everytime I go to Pakistan I see huge housing estates sprouting everywhere and cars, consumer goods on sale which does not even by the slightest fit with what figures I read on papers. So if people are not making money where are they getting the money to spend on cars, houses, phones? I just checked and car ownership rates are higher in Pakistan then India, extreme malnutritution is less in Pakistan then India, sanitation access is better in Pakistan but the crazy gross domestic capita is lower then India.

Does this add up? So if figures are to be believed Indian's make more money but then don't bother buying cars, don't bother feeding their children, don't bother building sanitation facelities but hide the money under the bed ....

Yes of course .....

Cars -

Pakistan - 57
India -18

List of countries by vehicles per capita - Wikipedia, the free encyclopedia
WHO | Fast facts
Indian poverty levels higher than Pakistan's, says UN report - Telegraph

You are excluding the fact that India have robust working public transport system from trams to bus to metro, BRT to local rail.
In India , we charges only INR 5 for 15 KM journey in city by city bus then why bother to buy vehicle to dent monthly budget.
Btw Internet warriors still not updated the wikipedia which is old data.

 

[A2Z]

Trust me its more than 1 Trillion already

And why are we not declaring it then?

 

[akshay gehlot]

Measuring 20-25 yrs on a economic scale is foolish. Who could have predicted in 1990 where China is today. Pakistan needs to set targets of increasing by a 100 million every few yes. And focus on that. Good governance and strong leadership may cause it to be reached in 15 yrs at 2030 or the opposite may cause it to fail to reach that even by 2050

Congratulations to Pakistan on achievement of this wonderful milestone.
Insha allah, Pakistan will soon overtake India's only $1.9 trillion economy.

Umm did you even read what has been written before in the thread or simply the headline ??

 

[Asian.Century]

I always had this notion Pakistan total Economy is over $ 1 Trillion Dollars plus add hidden and black economy which is not yet accounted for.

Excellent news, Pakistan already is the fastest Muslim growing economy now.

 

[xyxmt]

And why are we not declaring it then?

same reason why you are asking me, we have no documentation, no proof
we dont have have proof that its $250 billion

best example is we dont have any idea of how big our service industry is.

 

[The Great One]

All the official figures are garbage.There is always certain amount of slip in the official figures and the reality on the ground. Not everybody declares their true income. That why we call the unofficial economy the 'black economy'.

However what marks out Pakistan is magnitude of tax evasion even by Third World standards. According to FBR figures there are 856,987 taxpayers in Pakistan in a country of 190 million people. That has got to be world record. That is well below 1% paying tax in Pakistan.

Less than 1 percent of Pakistanis pay tax – Survey | Aboard The Democracy Train

Given the monumental incompetance by FBR as demonstrated by the numbers of most of the 856,987 taxpayers will be paying nominal amount of tax and getting away with 'murder'. Therefore Pakistan's tax iceberg is differant from most because larger mass of it is submerged. This is the point to keep in mind and not compare it to Canada, USA or UK. What is the exception in UK is ithe norm in Pakistan.

Anecodotal evidence will show any observer. Everytime I go to Pakistan I see huge housing estates sprouting everywhere and cars, consumer goods on sale which does not even by the slightest fit with what figures I read on papers. So if people are not making money where are they getting the money to spend on cars, houses, phones? I just checked and car ownership rates are higher in Pakistan then India, extreme malnutritution is less in Pakistan then India, sanitation access is better in Pakistan but the crazy gross domestic capita is lower then India.

Does this add up? So if figures are to be believed Indian's make more money but then don't bother buying cars, don't bother feeding their children, don't bother building sanitation facelities but hide the money under the bed ....

Yes of course .....

Cars -

Pakistan - 57
India -18

List of countries by vehicles per capita - Wikipedia, the free encyclopedia
WHO | Fast facts
Indian poverty levels higher than Pakistan's, says UN report - Telegraph

OMGLOL
@Emmie Give this man a +ve rating.

 

[Rajesh12379]

OMGLOL
@Emmie Give this man a +ve rating.

Facts and objectivity is not a strong suit with such people.